Teesside manufacturer returns to local ownership

A long-established Teesside manufacturer has returned to local ownership following a management buyout backed by six-figure investment.

Flat Free Tyres Ltd, which trades as Greencare Mobility and Greentyre, has been acquired from AM Healthcare Group by long-standing employees Katie Fryer and Rob Ferguson.

The deal was supported by investment through the £20 million Teesside Flexible Investment Fund, which provides finance to businesses contributing to economic growth across the region.

Middlesbrough-based Greencare manufactures configurable, custom-built wheelchairs and specialist seating solutions for NHS and private customers in the UK and overseas.

Customers can visit its factory to see wheelchairs being manufactured to their individual specifications, with the business described as the UK’s last mainstream wheelchair manufacturer.

Greentyre, meanwhile, produces microcellular polyurethane puncture-proof tyres for mobility, bicycle and industrial applications, supplying customers internationally from the same Middlesbrough manufacturing base.

The business has operated for more than 30 years.

The buyout puts ownership in the hands of two employees with a combined 37 years at the company.

Rob has worked for the business for 27 years, while Katie has been part of the team for a decade.

Katie said: “Greencare and Greentyre are well-established brands with a longstanding reputation in Teesside. 

“It has a rich heritage of manufacturing custom-built solutions that supports people’s wellbeing.  

“When the opportunity arose for Rob and I to acquire the business we jumped at the chance. 

“Bringing the business back into local ownership is important to us and we have ambitious plans to grow the business. 

“The whole team work together like a family and we’re committed to bringing back a personal touch to the business moving forward.”

Rob added: “Having worked here for over 27 years I’m extremely passionate about ensuring the best for the business, staff and customers. 

“Katie and I understand the business and what is needed to scale up and advance. 

“It’s a very rewarding sector to operate in and we are looking forward to continuing to support our existing customers and welcome new ones.

The Teesside Flexible Investment Fund supports businesses across Hartlepool, Middlesbrough, Redcar and Cleveland and Stockton-on-Tees with loans ranging from £100,000 to £3 million.

It is backed by investment from FW Capital and the Teesside Pension Fund.

Alex Gent, senior investment executive at FW Capital, added: “Rob and Katie have been with the business since before the acquisition by AM Healthcare Group, so they know the business inside out. 

“It’s a fantastic opportunity for them to bring it back under local ownership. 

“Their passion to grow the business is matched by their long-standing experience in this sector and I wish them well for the future.”

Councillor John Kabuye, chair of the Teesside Pension Fund Committee, added: “It’s great to see Greencare return to local ownership, and the passion Katie and Rob have for their business and its customers shines through.

“The Teesside Flexible Investment Fund was set up to support and nurture businesses just like this, with lasting benefits for the local economy for many years to come.”

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